High-rolling investors have positioned themselves bearish on Dell Technologies DELL, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in DELL often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 11 options trades for Dell Technologies. This is not a typical pattern.
The sentiment among these major traders is split, with 9% bullish and 90% bearish. Among all the options we identified, there was one put, amounting to $30,060, and 10 calls, totaling $463,522.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $150.0 for Dell Technologies, spanning the last three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Dell Technologies stands at 492.8, with a total volume reaching 1,564.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Dell Technologies, situated within the strike price corridor from $70.0 to $150.0, throughout the last 30 days.
Dell Technologies Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DELL | CALL | TRADE | BEARISH | 04/12/24 | $70.00 | $86.7K | 10 | 10 |
| DELL | CALL | TRADE | BEARISH | 01/16/26 | $105.00 | $71.5K | 98 | 31 |
| DELL | CALL | SWEEP | BEARISH | 06/21/24 | $115.00 | $52.4K | 306 | 77 |
| DELL | CALL | TRADE | BEARISH | 07/19/24 | $100.00 | $50.0K | 623 | 102 |
| DELL | CALL | TRADE | NEUTRAL | 04/12/24 | $70.00 | $43.5K | 10 | 0 |
About Dell Technologies
Dell Technologies is a broad information technology vendor, primarily supplying hardware to enterprises. It is focused on premium personal computers and enterprise on-premises data center hardware. It holds top-three shares in its core markets of personal computers, peripheral displays, mainstream servers, and external storage. Dell is vertically integrated but has a robust ecosystem of component and assembly partners, and also relies heavily on channel partners to fulfill its sales.
After a thorough review of the options trading surrounding Dell Technologies, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of Dell Technologies
- Currently trading with a volume of 2,846,551, the DELL's price is up by 0.03%, now at $113.58.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 78 days.
What Analysts Are Saying About Dell Technologies
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $120.2.
- An analyst from Bernstein persists with their Outperform rating on Dell Technologies, maintaining a target price of $120.
- An analyst from UBS persists with their Buy rating on Dell Technologies, maintaining a target price of $99.
- An analyst from UBS has decided to maintain their Buy rating on Dell Technologies, which currently sits at a price target of $113.
- An analyst from Wells Fargo persists with their Overweight rating on Dell Technologies, maintaining a target price of $140.
- Consistent in their evaluation, an analyst from Goldman Sachs keeps a Buy rating on Dell Technologies with a target price of $129.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Dell Technologies with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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